US October styrene contracts down on weaker benzene

HOUSTON (ICIS)--US styrene contracts and spot prices came down during the week that ended on 8 November, following recent weakness in the feedstock benzene market.

US October styrene contracts settled lower by 2 cents/lb ($88/tonne, €65/tonne) on average at 78.25-82.25 cents/lb this week, on the recent weakness in the feedstock benzene contract settlement, traders said.

The lower styrene settlement was in line with market expectations, after suppliers opted not to issue any October price increases.

October styrene contract settlements ranged from declines of 0.50-4.00 cents/lb.

Market participants have said they also expect upcoming November styrene contracts to come down on the back of declining benzene prices.